Globalworth Real Estate Investments profits jump; to raise €500m

11 March 2019 | 15:01pm

StockMarketWire.com - Centeral and eastern European property investor Globalworth Real Estate Investments booked a large rise in annual profit, driven by valuation gains and the inclusion of Polish assets into its portfolio.

The company also announced plans to raise up to €500m from a share issue to fund further acquisitions, at a price at or around its prevailing EPRA net asset value per share.

Pre-tax profit for the year through December jumped to €115.3m, up from €26.2m a year earlier.

The company declared annual dividends of €0.54 per share, up 23% on-year.

'2018 was a tremendous year for Globalworth as we continued our strong growth trajectory, delivered a significant step-up in our financial results and demonstrated strong operating results across our portfolio in Romania and Poland,' chief executive Dimitris Raptis said.

'With further investments targeted and, in our view, a compelling market outlook, we are set to take further strides forward in 2019.'

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